BBY Stock Summary and Trading Ideas (Best Buy Co. | NYSE:BBY)

With $43.5 billion in consolidated 2023 sales, Best Buy is the largest pure-play consumer electronics retailer in the U.S., boasting roughly 8.3% share of the North American market and north of 33% share of offline sales in the region, per our calculations, CTA, and Euromonitor data. The firm generates the bulk of its sales in-store, with mobile phones and tablets, computers, and appliances representing its three largest categories. Recent investments in e-commerce fulfillment, accelerated by the COVID-19 pandemic, have seen the U.S. e-commerce channel roughly double from prepandemic levels, with management estimating that it will represent a mid-30% proportion of sales moving forward.

Best Buy Co. trades on the NYSE stock market under the symbol BBY.

As of April 19, 2024, BBY stock price climbed to $76.10 with 54,033 million shares trading.

BBY has a beta of 1.19, meaning it tends to be more sensitive to market movements. BBY has a correlation of 0.32 to the broad based SPY ETF.

BBY has a market cap of $16.39 billion. This is considered a Large Cap stock.

Last quarter Best Buy Co. reported $15 billion in Revenue and $2.72 earnings per share. This beat revenue expectation by $96 million and exceeded earnings estimates by $.21.

In the last 3 years, BBY stock traded as high as $141.97 and as low as $60.79.

The top ETF exchange traded funds that BBY belongs to (by Net Assets): VTI, VOO, VO, SCHD, DVY.

BBY has underperformed the market in the last year with a price return of +7.9% while the SPY ETF gained +22.1%. However, in the short term, BBY had mixed performance relative to the market. It has outperformed in the last 3 months, returning +8.6% vs +5.1% return in SPY. But in the last 2 weeks, BBY shares have been beat by the market, returning -3.7% compared to an SPY return of -2.7%.

BBY support price is $74.61 and resistance is $77.39 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BBY stock will trade within this expected range on the day.